Former Reagor-Dykes CFO denies late payments, says Vista Bank attacked him, his family

Friday, September 21st 2018, 11:54 AM CDT

Updated:

Friday, September 21st 2018, 12:01 PM CDT

Through his attorney, former Reagor-Dykes chief financial officer Shane Smith said Vista Bank has attacked him and his family through a lawsuit filed this week.

Vista Bank filed suit in the 237th District Court claiming Smith defaulted on a $200,000 loan signed for in January that matures in January 2019. Vista's suit states Smith has refused to pay.

Smith says just last week Vista's attorney said the two sides believed a resolution would be worked out so the loan would be paid back. Smith says no payments on the loan have been past due, as Vista claims.

Here is the full statement from attorney E G Morris:

It is not my practice to comment to the press on any ongoing legal matter. However, in light of the press reports yesterday concerning the Vista Bank lawsuit, Mr. Smith thought it important to correct the article’s mischaracterization of his relationship with Vista Bank and his intentions concerning payment of his outstanding indebtedness to that institution and others. I concur with his decision. The following is a statement from Mr. Smith:

“It is unfortunate that Vista Bank has decided to attack me and my family with this lawsuit, when as early as last week, their attorney informed me he felt they would work out a term loan so that I could pay back the loan with principal and interest payments, as I had promised them I would. All interest payments have been made on time and nothing is past due, as they have claimed. The statement I received just this week says nothing about being past due. I am planning on paying Vista Bank, and any other creditor that I owe. I would hope they would want to be paid back, and I hope that a reasonable agreement, other than demanding the entire balance, can be accomplished.”

Dykes' response stated Smith was fired on or around Aug. 1 after he admitted to Dykes and Reagor that he had provided false financial information. Dykes also stated the local United States Attorney's office was then notified, "which has commenced an investigation", according to the filing.